Insight Engines Market by Component (Solutions, Services), Application (Workforce Management, Customer Experience Management), Organization Size, Deployment Mode, End-use (BFSI, Retail, Manufacturing), and Geography

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Insight Engines Market Size, Share, Forecast, & Trends Analysis by Component (Solutions, Services), Application, Organization Size, Deployment Mode, End-use Industry, and Geography-Global Forecast to 2031

The research report titled, 'Insight Engines Market Size, Share, Forecast, & Trends Analysis by Component (Solutions, Services), Application, Organization Size, Deployment Mode, End-use Industry, and Geography-Global Forecast to 2031', provides an in-depth analysis of the insight engines market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The insight engines market is projected to reach $11.4 billion by 2031, at a CAGR of 25.0% from 2024 to 2031. The growth of this market is driven by the increasing need for data-driven decision-making for businesses, the growing demand for smart & timely recommendations for customers, and the increasing proliferation of insight engines in the BFSI sector. The growing demand for effective customer experience management & engagement and the rising need for cloud-based insight engines are expected to offer significant growth opportunities for the stakeholders in the insight engines market. The reliability & accuracy of results may restrain the market's growth to a certain extent. Furthermore, data security & privacy concerns are expected to pose challenges to the growth of the insight engines market.

The insight engines market is segmented by component, application, organization size, deployment mode, and end-use industry. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on component, the global insight engines market is segmented into solutions and services. In 2024, the solutions segment is expected to account for a larger share of the global insight engines market. The large market share of this segment is attributed to the growing demand for insight engine tools to search, discover, and analyze both structured and unstructured data; the increasing need for effective data presentation in businesses; a surge in demand for insight engines to retrieve information from multiple sources and extract insights from this data; and growing popularity for cloud-based insight engines. However, the services segment is projected to register the highest CAGR during the forecast period.

Based on application, the global insight engines market is segmented into workforce management, customer experience management, risk & compliance management, sales & marketing management, operation management, and other applications. In 2024, the customer experience management segment is expected to account for the largest share of the global insight engines market. The large market share of this segment is attributed to the increasing proliferation of predictive analytics solutions for better customer experience, the increasing need to deliver a better customer experience by assuring ease of use & quick intelligence, and a broad scope of searches through insight engines. Insight engines give companies the power to present personalized and unique content to customers and produce personalized product lines to satisfy unique audiences. It provides the ability to process unstructured data such as social media information, images, videos, and audio files and turn them into valuable personalized content for a better customer experience. This segment is also projected to register the highest CAGR during the forecast period.

Based on organization size, the global insight engines market is segmented into large and small & mid-sized enterprises. In 2024, the large enterprises segment is expected to account for the larger share of the global insight engines market. The large market share of this segment is attributed to the increasing emphasis by large enterprises on advanced technologies with an intent to enhance their productivity and efficiency, the growing need to derive business insights from large data sets, increasing demand for insight engines for better customer experience management. However, the small & mid-sized enterprises segment is projected to register the highest CAGR during the forecast period.

Based on deployment mode, the global insight engines market is segmented into cloud-based and on-premise deployment. In 2024, the cloud-based deployment segment is expected to account for the larger share of the global insight engines market. The large market share of this segment is attributed to the growing demand for secure cloud-based insight engine solutions, the increasing need to store, analyze, and retrieve business insights through cloud platforms, and the growing benefits offered by highly sophisticated cloud-based insight engines such as data security, privacy, reliability, and centralized storage systems. The segment is also projected to register the highest CAGR during the forecast period.

Based on end-use industry, the global insight engines market is segmented into IT & telecommunications, BFSI, healthcare & life sciences, retail & e-commerce, manufacturing, government & public sector, media & entertainment, and other end-use industries. In 2024, the BFSI segment is expected to account for the largest share of the global insight engines market. The large market share of this segment is attributed to the increasing deployments of insight engines to find and analyze customer sentiment by examining social media and studying conversations about their facilities and service strategies with the use of natural language processing, the rising need to compile accurate reports and provide a better recommendation to customers and internal decision-makers with the ability to get essential data, and increasing need to customize banking operations, enhances customer engagement. The segment is also projected to register the highest CAGR during the forecast period.

Based on geography, the global insight engines market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global insight engines market. The large share of this regional market is attributed to a well-established network of insight engine solutions & service providers, growing adoption of emerging technologies such as natural language processing, voice recognition techniques, and virtual assistants & chatbots, and increasing deployments of insight engines across various large enterprises. However, Asia-Pacific is projected to register the highest CAGR during the forecast period.

Key Players:

The key players operating in the insight engines market are Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Oracle Corporation (U.S.), Google LLC (a subsidiary of Alphabet, Inc.) (U.S.), SAP SE (Germany), OpenText Corporation (Canada), Celonis SE (Germany), Upland Software, Inc. (U.S.), Progress Software Corporation (U.S.), Lucidworks, Inc. (U.S.), ServiceNow, Inc. (U.S.), Forwardlane, Inc. (U.S.), SearchBlox Software, Inc.(U.S.), Coveo Solutions Inc. (U.S.), and o9 solutions Inc.(U.S.)

Key questions answered in the report-

Which are the high-growth market segments based on component, application, organization size, deployment mode, end-use industry, and geography?
What was the historical market for the insight engines market?
What are the market forecasts and estimates for the period 2024-2031?
What are the major drivers, restraints, opportunities, and challenges in the insight engines market?
Who are the major players, and what shares do they hold in the insight engines market?
What is the competitive landscape like in the insight engines market?
What are the recent developments in the insight engines market?
What are the different strategies adopted by the major players in the insight engines market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the insight engines market, and how do they compete with the other players?

Scope of the Report:

Insight Engines Market Assessment-by Component

Solutions
Services
- Consulting & Training
- Deployment & Integration
- Support & Maintenance

Insight Engines Market Assessment-by Application

Workforce Management
Customer Experience Management
Risk & Compliance Management
Sales & Marketing Management
Operation Management
Other Applications (Search & Discovery and Knowledge Management)

Insight Engines Market Assessment-by Organization Size

Large Enterprises
Small & Mid-sized Enterprises

Insight Engines Market Assessment-by Deployment Mode

Cloud-based Deployments
On-premise Deployments

Insight Engines Market Assessment-by End-use Industry

IT & Telecommunications
BFSI
Healthcare & Life Sciences
Retail & E-commerce
Manufacturing
Government & Public Sector
Media & Entertainment
Other End-use Industries (Automotive and Oil & Gas)

Insight Engines Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Latin America
Middle East & Africa

Product Code: MRICT - 104828

1. Market Definition & Scope

1.1 Market Definition
1.2 Scope of Study
1.3 Global Insight Engines Market Ecosystem
1.4 Currency & Limitation
- 1.4.1 Currency
- 1.4.2 Limitations
1.5 Key Stakeholders

2. Research Methodology

2.1 Research Approach
2.2 Process of Data Collection & Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research / Interviews with Key Opinion Leaders of the Industry
2.3 Market Sizing and Forecast
- 2.3.1 Market Size Estimation Approach
- 2.3.2 Growth Forecast Approach
2.4 Assumptions for the Study

3. Executive Summary

3.1 Market Analysis, by Component
3.2 Market Analysis, by Application
3.3 Market Analysis, by Technology
3.4 Market Analysis, by Organization Size
3.5 Market Analysis, by Deployment Mode
3.6 Market Analysis, by End-use Industry
3.7 Market Analysis, by Geography
3.8 Competitive Analysis

4. Market Insights

4.1 Introduction
4.2 Factors Affecting Market Growth
- 4.2.1 Drivers
  - 4.2.1.1 Increasing Need for Data-Driven Decision-making for Businesses
  - 4.2.1.2 Growing Demand for Smart & Timely Recommendations for Customers
  - 4.2.1.3 Increasing Proliferation of Insight Engines in the BFSI Sector
- 4.2.2 Restraints
  - 4.2.2.1 Reliability & Accuracy of Results
- 4.2.3 Opportunities
  - 4.2.3.1 Growing Demand for Effective Customer Experience Management & Engagement
  - 4.2.3.2 Increasing Demand for Cloud-based Insight Engines
- 4.2.4 Challenges
  - 4.2.4.1 Data security & privacy concerns
4.3 Porter's Five Forces Analysis
4.4 Key Market Players' Pricing & Deployment Model

5. Insight Engines Market Assessment, by Component

5.1 Overview
5.2 Solutions
5.3 Services
- 5.3.1 Consulting & Training
- 5.3.2 Deployment & Integration
- 5.3.3 Support & Maintenance

6. Insight Engines Market Assessment, by Application

6.1 Overview
6.2 Workforce Management
6.3 Customer Experience Management
6.4 Risk & Compliance Management
6.5 Sales & Marketing Management
6.6 Operation Management
6.7 Other Applications (Search & Discovery and Knowledge Management)

7. Insight Engines Market Assessment, by Organization Size

7.1 Overview
7.2 Large Enterprises
7.3 Small & Mid-sized Enterprises

8. Insight Engines Market Assessment, by Deployment Mode

8.1 Overview
8.2 Cloud-based Deployment
8.3 On-premise Deployment

9. Insight Engines Market Assessment, by End-use Industry

9.1 Overview
9.2 IT & Telecommunications
9.3 BFSI
9.4 Healthcare & Life Sciences
9.5 Retail & E-commerce
9.6 Manufacturing
9.7 Government & Public Sector
9.8 Media & Entertainment
9.9 Other End-use Industries (Automotive and Oil & Gas)

10. Insight Engines Market Assessment, by Geography

10.1 Overview
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 Germany
- 10.3.2 U.K.
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia-Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 South Korea
- 10.4.5 Rest of Asia-Pacific
10.5 Latin America
- 10.5.1 Mexico
- 10.5.2 Brazil
- 10.5.3 Rest of Latin America
10.6 Middle East & Africa
- 10.6.1 UAE
- 10.6.2 Israel
- 10.6.3 Rest of Middle East & Africa

11. Competitive Analysis

11.1 Overview
11.2 Key Growth Strategies
11.3 Competitive Dashboard
- 11.3.1 Industry Leader
- 11.3.2 Market Differentiators
- 11.3.3 Vanguards
- 11.3.4 Contemporary Stalwarts
11.4 Vendor Market Positioning
11.5 Market Share Analysis

12. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Recent Developments, and SWOT Analysis of the Top 5 Companies)

12.1 Microsoft Corporation
12.2 International Business Machines Corporation
12.3 Oracle Corporation
12.4 Google LLC (a subsidiary of Alphabet, Inc.)
12.5 SAP SE
12.6 OpenText Corporation
12.7 Celonis SE
12.8 Upland Software, Inc.
12.9 Progress Software Corporation
12.10 Lucidworks, Inc.
12.11 ServiceNow, Inc.
12.12 Forwardlane, Inc.
12.13 SearchBlox Software, Inc.
12.14 Coveo Solutions Inc.
12.15 o9 solutions Inc.

13. Appendix

13.1 Questionnaire
13.2 Available Customization